07-19-2013 Trading Journal

The market opened slightly lower but spent all day climbing back up to neutral by end of day.

Meanwhile, seeing that the overall tone of the market being negative, I began to reduce my bio-tech risk by first selling off my $CERS position.

When $ATRS began to hit $4.50 which practically taking out the low of the last three days, I reduced my position by 50% to reduce risk and to get out at breakeven.

I also dumped my $AMRN swing trade position as well as 50% of my core position. $AMRN, at this stage, has lost its bearing so any down market can easily drag this one down. Good thing I was able to sell close to my entry price so I didn’t have to take loss from my entry point.

$BIOD started off the day by taking out yesterday low so I reduced my position to minimize risk. However, price later went back up but I decided not to chase it back. Let’s see how price action behave next week.

Basically, I played defensive all day and was glad I did ’cause both $ATRS and $AMRN went down even more after I sold.